XRP is now trading in two markets at once, the open market everyone watches and the secondary arena inside spot ETFs, where issuers compete for the same institutional tickets, and the combined stack has reached $1.37 billion in total net assets with $1.18 billion in cumulative net inflows, as per SoSoValue.
This week the group printed a $43.16 million net inflow, but it was not a calm “everyone wins” kind of week, it was money picking sides. Franklin’s XRPZ did the heavy lifting with $21.76 million in fresh cash, taking its total haul to $252.31 million. Bitwise’s XRP was right behind, pulling $17.27 million on the week and sitting at $264.99 million cumulative.
That is where the weird twist came as Canary’s XRPC was the week’s biggest loser on flows at -$1.18 million, yet it still wears the crown on size, holding the largest asset base at $349.24 million and the biggest inflow tally at $383.94 million.
For now in the XRP ETF ground, one product can be the biggest room in the building and still have people walking out the door.
Last day alone, about $27.51 million worth of XRP ETF shares changed hands in a single session, and with share prices up around 8% across several products, this did not look like sleepy “set it and forget it” allocation, it looked like buyers stepping in together while the price of XRP was marching toward $2.
Battle behind headline
Allocators are not buying generic XRP exposure, they are choosing which issuer delivers the cheapest fee, the best liquidity and the least friction on creations and redemptions, and that choice can flip fast when one product starts printing bigger daily volume.
More creations during inflow spikes force more spot buying for XRP under the hood, and as ETF assets become a bigger slice of the token's market cap, those bursts can magnify upside days big time.
Alex Dovbnya
Arman Shirinyan
Dan Burgin
Caroline Amosun